Govt Fires Back at KHRC Over ‘Skewed’ Hustler Fund Report

The report had claimed the Fund was losing millions daily...
✨ Key Highlights
Cabinet Secretary Wycliffe Oparanya has fiercely refuted a report by the Kenya Human Rights Commission (KHRC) that alleges the Hustler Fund has lost billions since its 2022 inception. Oparanya dismissed the KHRC report, titled 'Failing the Hustlers,' as "skewed, elitist, and politically motivated," challenging its methodology and conclusions.
- The KHRC report claimed Ksh340 was lost for every Ksh500 borrowed, estimating 71.5 percent of loans were unrecoverable, leading to alleged daily taxpayer losses exceeding Ksh50 million.
- CS Oparanya stated the report's assessment period was premature, covering the Fund's initial seven months, and clarified the Fund's actual capitalization is Ksh14 billion, not Ksh50 billion as reported by KHRC, with a portfolio of over Ksh72 billion.
- The Ministry of Co-operatives highlighted that the Hustler Fund has established credit histories for over 26 million beneficiaries, with over nine million regular borrowers, and personal loan limits can extend up to Ksh50,000.
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